Cuba intends to use the cryptocurrency to bypass sanctions effects

The President of Cuba declared the use of the cryptocurrency for the improvement of Cuba’s economy. The authorities hope to attract funds to pay with cryptocurrency for the reforms.

There is no confirmation whether Cuba will go by Venezuela way, which has issued its own cryptocurrency or will use existing coins, such as BTC. Anyway, according to the head of state, their use will guarantee the necessary level of decentralization of the economy.